(C) Daily Kos
This story was originally published by Daily Kos and is unaltered.
 . . . . . . . . . .



Finally, the US responds to China's full on assault [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.', 'Backgroundurl Avatar_Large', 'Nickname', 'Joined', 'Created_At', 'Story Count', 'N_Stories', 'Comment Count', 'N_Comments', 'Popular Tags']

Date: 2023-04-20  

Treasury Secretary Janet Yellen speaks on Thursday. Photo: Ting Shen/Bloomberg via Getty Images

For much of the global south and undeveloped world this maybe to late

Demetri Sevastopulo in Washington

“The US will assert ourselves when our vital interests are at stake,” the Treasury secretary said. “But we do not seek to ‘decouple’ our economy from China’s. A full separation of our economies would be disastrous for both countries. It would be destabilising for the rest of the world.” But while the Treasury secretary called for a “healthy economic relationship” and co-operation on macroeconomics and climate change, she said the US would continue to work with allies to resist Beijing’s “unfair” economic policies. She also called on China to work with Washington to help emerging market and developing countries facing debt problems. “China’s participation is essential to meaningful debt relief,” she said. “But for too long, it has not moved in a comprehensive and timely manner. It has served as a roadblock to necessary action.”

Yellen’s speech is addressed to the US Markets and Western allies, it does nothing to counter Xi’s relentless pursuit of non-aligned nations and independents. As with most US policies, this is a short term fix to an imminent threat. Xi’s world win diplomacy and trade initiatives of the past six weeks has inflicted significant harm to US policy initiatives in those countries.

In China’s propaganda, the US efforts to restrained China are combined with our efforts to help Ukraine defend itself against Russia as the US attempting to destroy any country who dares to compete with it as an equal. By combining that message with significant trade agreements with these countries, China portrays itself as the true friend of the developing nations and the protector of world peace.

Yellen’s core message is a repeat of Xi’s opening message on the disastrous effects of decoupling and China’s need to open its economy. Her message may have been more effective had she called on China to make specific adjustments in its trade policies that would truly open their economy to fair trade, something Xi did not specify. The speech made no mention of the bait and switch peace conferences that end in lucrative trade agreements and no peace plans. It also would have been a good time to point out that the Saudi Arabia-Iran peace deal did not address the war in Yemen, instead the two parties agreed to address that issue after reestablishing relations.

I see noting in Yellen’s speech that will counter Xi’s efforts to diminish US influence in the developing world.

[END]
---
[1] Url: https://www.dailykos.com/stories/2023/4/20/2164966/-Finally-the-US-responds-to-China-s-full-on-assault

Published and (C) by Daily Kos
Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified.

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/dailykos/